CORSA NUT
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Registered: 3rd Aug 01
Location: Wirral
User status: Offline
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Now bere with me here..
I've heard of this happening a few years back but not sure on the situation now.
Say Renault for instance had a new 182 clio right..would they lease it out for 24 months under a limited milage policy for a certain amount and after the 2 years you just give it back???
Dosn't really have to be renault but the 182 is tempting but i don't fancy paying 14K for one!
[Edited on 18-09-2005 by CORSA NUT]
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Graeme
Premium Member
Registered: 26th Jul 04
Location: Northampton
User status: Offline
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yeah sum companies will but its not really worth it unless u are gona be doing a load of miles on it as it is expensive way to do it!
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CORSA NUT
Member
Registered: 3rd Aug 01
Location: Wirral
User status: Offline
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I thought they would only let you do it if you were doing low miles?? I only do 6K a year if that!
Surely keeping the milage off the car is better for them??
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-wylo-
Member
Registered: 4th Oct 04
Location: Dunfermline
User status: Offline
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My dad had a peugout 406 on a 3 year lease a while back. I'm positive it has to be leased through your business.
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Bram
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Registered: 25th Mar 02
Location: Derby
User status: Offline
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BMW offer this. My mate has just picked up a 55 plate Z4, built to his spec, he pays a finance on it everymonth but after 2 years he can walk away or carry on paying it off.
Money down the drain really.
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ed
Member
Registered: 10th Sep 03
User status: Offline
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It's called hire purchase. Every car company will do it...
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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No hire purchase is finance on the entire car but longer term say 5 years, usually after 2 years or so they are square so you can sell and settle the debt and hence walk away, and after 3 years there is usually a bit of equity which you would use as deposit for the next car.
Problem with this, is if you chose a car that depreciates faster than you pay it off, generally higher spec'd stuf like top of the range models. 182 being an example.
PCP schemes defer a set amount based on mileage as this effects the future value of the car, and you finance for 2 or 3 years, then still have an outstanding sum to pay at the end of this term which you can either settle by refinancing (ie. straight monthly loan), paying off in full or handing the car back. This is safer if the car is definately going but you must keep it well maintaned and within their mileage arrangement.
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Paul H
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Registered: 11th Aug 03
Location: Lincoln.
User status: Offline
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we lease a ford fiesta to run around in at work it costs the company £99 a month and has a mileage cap of 9000 miles a year.that includes road fund licence for 12 months aswell.thats through sandicliffe ford
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CORSA NUT
Member
Registered: 3rd Aug 01
Location: Wirral
User status: Offline
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Hmmmmmmm i see what your all saying.
I think it would be a waste of money hey 
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